In the linear breakeven model, the difference between selling price per unit and variable cost per unit is referred to as:
a. variable margin per unit
b. variable cost ratio
c. contribution margin per unit
d. target margin per unit
e. none of the above
c
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Suevania opens its doors to trade with Barvania. Barvania has a comparative advantage in the production of machinery. Hence, once trade occurs Suevania's consumers will buy ________ machinery and pay ________ before
A) more; a lower price than B) the same amount of; the same price as C) less; a higher price than D) more; a higher price than E) less; a lower price than
Which factor would cause a movement along the demand curve for pizza?
A) an increase in the number of students in town B) a renewed preference for Italian food C) a drop in the price of pizza D) an increase in average income
The calculated price elasticity of demand:
A. is always a negative number, although it is sometimes reported as an absolute value. B. is sometimes negative and sometimes positive, depending on the magnitude of response. C. is always a positive number, because price and quantity are directly related in terms of demand. D. can be positive or negative, but is always reported as an absolute value.
Your roommate tells you she's going to join the gym next week. A week and a half goes by and you ask her how the gym is going, and she tells you she's going to wait until the following week. Your roommate's preferences are:
A. better today than tomorrow. B. time inconsistent. C. mistakes. D. considered bad choices.